“Old Dominion continued to provide outstanding customer service during the second quarter of 2016, but our quarterly revenue was once again negatively impacted by reductions in both fuel surcharges and non-LTL revenue,” said David S. Congdon, Vice Chairman and Chief Executive Officer of Old Dominion. “These factors, combined with a domestic economy that remained sluggish, resulted in our first quarterly year-over-year decline in revenue since the fourth quarter of 2009.

“Old Dominion’s revenue for the second quarter includes a 0.8% increase in LTL revenue per hundredweight that was partially offset by a 0.3% decrease in LTL tonnage per day. Excluding fuel surcharges, LTL revenue per hundredweight increased 2.7% during the second quarter as the pricing environment remained relatively stable. We have not changed our pricing philosophy or commitment to price discipline, but changes to our weight per shipment and mix of freight continue to impact our yield metrics.